What Is Corporate and Business Planning?

Business Planning Attorneys in Clovis, CA

What Is Corporate and Business Planning?

At Barrus and Roberts PC, we take a hands-on approach and consult thoroughly with our clients to understand the business objectives. It’s our job to help you determine which business entity is right for you. Once you’ve given us all the appropriate information, we help you to develop strategic and business plans to optimize your opportunities. You won’t regret putting your trust in our expertise.

Different Kinds of Businesses

It’s important to set up your business the correct way. Our attorneys can help ease some of the headache by helping you determine which business will suit your needs.

Here are some of the most common types of businesses:

LLC

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An LLC is a limited liability company. It is similar to a partnership but has the legal protections of personal assets that a corporation offers without some of the formalities required for bigger corporations. Exact rules for LLC vary by state. Our attorneys can help you by reading over what you have and clarifying if this is the right fit for your situation.

S Corporation

An S-corp is often confused with a C-corp. However, there are some notable differences. An S-corp is similar to the C-corp, except that it has elected a special federal tax status, or an S status. This means that this business will be treated the way a partnership, LLC or sole proprietor would be for tax purposes.

Partnership

A partnership is created when two or more people own and operate a business together and don’t form an LLC or a corporation. Partnerships are the default business form for businesses with multiple owners. They can be tricky, and it’s critical that the legality is set up correctly. You can trust our attorneys to make sure this is set up to benefit both people.

Corporate and Business Planning Entity Comparisons Chart

Compare the major business entity types side by side in this handy chart. You can view key differences in entities including how capital is raised, deductible benefits, income taxes, basic legal formalities, and much more…